|The agrochemicals market generated revenue of $202,584 million in 2015 and is expected to reach $276,374 million by 2022, registering a CAGR of 4.6%. The term agrochemicals defines a wide range of specifically engineered chemicals, such as pesticides, insecticides, fungicides, and others that effectively enhance the crop productivity by increasing soil fertility and protecting the crops against pests and weeds. Agrochemicals are further classified into synthetic, semi-synthetic, and bio-agrochemicals.
The major factors that drive the agrochemicals market include the growth in demand for food, soil degradation, and increased adoption of bio-agrochemicals. Rapid increase in population results in rise in demand for food on a global basis, thus surged the use of agrochemicals to enhance the crop productivity. However, the presence of eco-friendly alternatives and increase in environmental concerns could hamper the market growth during the forecast period. In addition, significant growth opportunities are available in the market for the development of new and safe bio-based agrochemicals.
The global agrochemicals market is segmented on the basis of product type and geography. Based on product type, it is bifurcated into fertilizers and pesticides. Fertilizers are further classified into synthetic fertilizers (nitrogenous, phosphatic, potassic, and others) and biofertilizers. The pesticides segment is further sub-segmented into herbicides, insecticides, fungicides, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of the major market players include:
Key Benefits for Stakeholders
Quantitative analysis of the current market trends as well as future estimations in the global agrochemicals market are provided in the report.
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Key Market Segments
Other major players in the industry includes:
*The above list of companies is not profiled in the report, and can be added based on client interest.
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